Baker Hughes Company $BKR Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 11.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 435,460 shares of the company’s stock after selling 53,561 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Baker Hughes were worth $16,696,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in Baker Hughes by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 123,291,916 shares of the company’s stock worth $4,727,012,000 after purchasing an additional 1,173,700 shares during the period. Geode Capital Management LLC boosted its position in shares of Baker Hughes by 1.6% in the second quarter. Geode Capital Management LLC now owns 25,875,670 shares of the company’s stock worth $987,961,000 after buying an additional 397,984 shares during the period. Norges Bank acquired a new stake in shares of Baker Hughes in the second quarter valued at about $862,722,000. Artisan Partners Limited Partnership raised its holdings in shares of Baker Hughes by 1.0% during the 2nd quarter. Artisan Partners Limited Partnership now owns 16,677,718 shares of the company’s stock valued at $639,424,000 after buying an additional 167,095 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Baker Hughes by 18.9% during the 2nd quarter. Invesco Ltd. now owns 12,834,534 shares of the company’s stock valued at $492,076,000 after buying an additional 2,044,402 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

BKR opened at $45.02 on Wednesday. The company has a market capitalization of $44.42 billion, a P/E ratio of 15.52, a PEG ratio of 1.70 and a beta of 0.90. The company has a 50-day moving average of $47.77 and a 200-day moving average of $44.69. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $51.12.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. The business had revenue of $5.09 billion during the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%. Equities analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Tuesday, November 4th. Baker Hughes’s payout ratio is 31.72%.

Insider Buying and Selling

In related news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the sale, the executive vice president directly owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. This represents a 38.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the transaction, the chief accounting officer directly owned 11,772 shares of the company’s stock, valued at approximately $588,600. This represents a 7.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on BKR shares. Bank of America increased their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. JPMorgan Chase & Co. upped their target price on shares of Baker Hughes from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, September 30th. Zephirin Group lifted their price target on shares of Baker Hughes from $37.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Royal Bank Of Canada upped their price objective on shares of Baker Hughes from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Finally, Cowen restated a “buy” rating on shares of Baker Hughes in a research note on Monday, October 27th. Twenty-three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.92.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.